Inflation Singapore 2021
Average inflation: 2.3%
Current Inflation
Inflation is normal at 2.3%, around the ECB target.
Peak and Trough
The highest inflation was in December at 4.0%. The lowest inflation was in January at 0.2%.
- Highest month
- December: 4.0%
- Lowest month
- January: 0.2%
- Difference
- 3.8 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 1.4%. The lowest price increase was in Core inflation with an average of 1.0%.
- Highest increase
- Food: 1.4%
- Lowest increase
- Core inflation: 1.0%
Historical Context
Current inflation is 1.6% higher than the 5-year average of 0.7%.
- 5-year average
- 0.7%
- 10-year average
- 1.1%
- All-time high (2008)
- 6.6%
- All-time low (2016)
- -0.5%
Trend
Inflation shows an upward trend. Compared to 2020, inflation has risen by +2.5 percentage point.
- Change vs. previous year
- +2.5 percentage points
- Largest monthly swing
- December: +4.0 percentage points
ECB Target
Inflation is close to the ECB target of 2.0%.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €102.30 next year at this inflation rate.
Multi-year trend
Monthly figures 2021
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2020 |
|---|---|---|
| January | 0.2% | -0.6 |
| February | 0.7% | +0.4 |
| March | 1.3% | +1.3 |
| April | 2.1% | +2.8 |
| May | 2.4% | +3.2 |
| June | 2.4% | +2.9 |
| July | 2.5% | +2.9 |
| August | 2.4% | +2.8 |
| September | 2.5% | +2.5 |
| October | 3.2% | +3.4 |
| November | 3.8% | +3.9 |
| December | 4.0% | +4.0 |
| Average | 2.3% |
Data source
Data from WorldBank. Last updated: 06/01/2026.